AIA Philippines Bullish About Future Goals | AIA Philippines

AIA Philippines bullish about future goals

16 May 2023

MANILA, PHILIPPINES; 16 May 2023 – Insurance provider AIA Philippines continued to deliver on its mission as it stays focused on its objective of saving lives, fulfilling dreams, securing the futures of countless Filipinos.

Among the accomplishments disclosed for 2022 are those related to the launch and acquisition of its subsidiaries, AIA Investment Management and Trust Corporation Philippines (AIAIM PH) and MediCard Philippines, key pieces that will be instrumental in establishing AIA Philippines as the leading brand for Filipinos’ protection, long-term savings and healthcare needs.

“2022 was a big year for AIA Philippines, as we continued to take on major initiatives, ensuring that we are well-positioned to capture the opportunities ahead. At the same time, we are happy to have kept the course in terms of our save lives commitment, where we achieved almost 90 percent of our target number of Filipinos with insurance protection, with over 90 percent achievement of our sum assured targets,” states AIA Philippines Chief Executive Officer Kelvin Ang.

Newly-appointed MediCard Philippines CEO Julian Mengual, meanwhile, expressed his excitement to take the health maintenance organization to even greater heights in collaboration with AIA Philippines.

The AIA Philippines and MediCard Philippines collaboration will drive business results for both companies by offering a complete suite of innovative products across distribution channels. With the combined strength of the two companies, customers can expect improved service levels, supported by technology, digital and analytics, with better health outcomes.

“With AIA and MediCard in the Philippines coming together, we will become the healthcare partner of choice for Filipinos. We are committed to work together to make healthcare more accessible, more affordable and more effective for everyone,” Mengual says.

By concentrating on the execution of its strategic priorities, AIA Philippines was able to sustain its financial strength, staying within the top ranking for net worth, and second in terms of net income and assets. ”As we recover from the pandemic we remain financially strong and able to invest in the business to support the delivery of our mission.” explains AIA Philippines Chief Financial Officer Gary Ogilvie. “These financial metrics give our customers assurance that when the time comes that they need to claim, we will be there to deliver on our commitment.”

This year, an even stronger AIA Philippines is expected to stay on track with its business objectives, driven by the significant growth opportunities presented by the huge protection gap, low insurance penetration rate, and the financial insecurity created by the pandemic. These opportunities will be met by creating solutions that will address customers’ long-term savings, protection and healthcare needs, with digital and analytics ensuring that customer and distribution journeys are fully supported.

The suite of products that will be developed by AIA Philippines in 2023 will primarily be driven by the heightened awareness for protection and importance of health and wellness, coupled with the preference for guaranteed benefits, an effect of the financial insecurity post-pandemic. “This year, we will launch new funds that will enhance our current offerings, as well as products with guaranteed benefits, also more health-focused products that will strengthen the propositions from AIA Philippines and MediCard,” shares AIA Philippines Chief Investment Officer Lee Longa.

“The building blocks of AIA Philippines are in place and we are in the best position to provide the solutions that will meet the varied protection, long-term savings and healthcare needs of Filipinos, so we can help them live Healthier, Longer, Better Lives,” says Ang in closing.

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